According to the latest reiwa.com data, houses in Perth are selling 27 days faster in September compared to one year ago, taking a median of 28 days to sell rather than 55 days.
REIWA President Damian Collins said it is pleasing to see the established market doing well.
“While the data shows we are seeing improvements, agents on the ground have reported high levels of interest in residential property and multiple offers being put forward on some new listings,” Mr Collins said.
Why are we seeing this trend?
“In September there was a 20 per cent decrease in the number of properties for sale on reiwa.com compared to the previous year. This combined with low interest rates and a return to stronger population growth explains why we are seeing houses sell at a quicker rate.
“While the market overall is on the improve, some suburbs are going better than others, with the top 10 selling suburbs in September all selling well under Perth’s median of 28 days.”
“With low stock levels and faster selling days, we can expect the median sale price to start increasing over the coming months. For those who are looking to sell, now might be the time to contact your local REIWA agent,” Mr Collins said.